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Novo Nordisk Raises Sales & Operating Profit Outlook for 2020
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Novo Nordisk A/S (NVO - Free Report) announced preliminary third-quarter 2020 sales and operating profit results and raised 2020 sales and operating profit outlook at constant exchange rates (CER).
In the third quarter of 2020, the company’s sales increased 7% and operating profit grew 7%, both at CER. The growth reflects that the negative impact due to COVID-19 was lesser than expected. Sales were positively impacted by inventory changes at the wholesale level in the United States.
Due to a lesser-than-expected impact of COVID-19 and the underlying market demand, the company raised its sales and operating profit outlook for 2020. It now expects sales growth in the range of 5-8%,up from the previous expectation of 3-6%. The company also expects operating profit guidance in the range of 5-8%, up from the prior expectation of 2-5%. The outlook is based on a number of assumptions related to the severity and duration of the impacts ofCOVID-19 along with other factors.
Shares of the company have gained 23.1% against the industry’s 0.3% decline.
Novo Nordisk has a strong presence in the Diabetes care market with one of the broadest diabetes portfolios in the industry. The company has improved its global diabetes value market share over the last 12 months from 28.2% to 29%, driven by an improved global insulin market share and the expansion of the GLP-1 segment as well as market share.
Novo Nordisk currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) , Amicus Therapeutics Inc. (FOLD - Free Report) and AVEO Pharmaceuticals Inc. . While Emergentsports a Zacks Rank #1 (Strong Buy), Amicus and AVEO carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $4.03 to $6.61 for 2020 and from $5.07 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 104.7% year to date.
FOLD’s loss per share estimates have narrowed from $1.08 to $1.01 for 2020 and from 67 cents to 61 cents for 2021 over the past 60 days. Shares of the company have increased 53% year to date.
AVEO’s loss per share estimates have narrowed from $1.68 to $1.25 for 2020 and from $1.71 to $1.22 for 2021 over the past 60 days. Shares of the company have increased 5.8% year to date.
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Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year. These 7 were selected because of their superior potential for immediate breakout.
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Novo Nordisk Raises Sales & Operating Profit Outlook for 2020
Novo Nordisk A/S (NVO - Free Report) announced preliminary third-quarter 2020 sales and operating profit results and raised 2020 sales and operating profit outlook at constant exchange rates (CER).
In the third quarter of 2020, the company’s sales increased 7% and operating profit grew 7%, both at CER. The growth reflects that the negative impact due to COVID-19 was lesser than expected. Sales were positively impacted by inventory changes at the wholesale level in the United States.
Due to a lesser-than-expected impact of COVID-19 and the underlying market demand, the company raised its sales and operating profit outlook for 2020. It now expects sales growth in the range of 5-8%,up from the previous expectation of 3-6%. The company also expects operating profit guidance in the range of 5-8%, up from the prior expectation of 2-5%. The outlook is based on a number of assumptions related to the severity and duration of the impacts ofCOVID-19 along with other factors.
Shares of the company have gained 23.1% against the industry’s 0.3% decline.
Novo Nordisk has a strong presence in the Diabetes care market with one of the broadest diabetes portfolios in the industry. The company has improved its global diabetes value market share over the last 12 months from 28.2% to 29%, driven by an improved global insulin market share and the expansion of the GLP-1 segment as well as market share.
Novo Nordisk AS Price
Novo Nordisk AS price | Novo Nordisk AS Quote
Zacks Rank &Stocks to Consider
Novo Nordisk currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) , Amicus Therapeutics Inc. (FOLD - Free Report) and AVEO Pharmaceuticals Inc. . While Emergentsports a Zacks Rank #1 (Strong Buy), Amicus and AVEO carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $4.03 to $6.61 for 2020 and from $5.07 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 104.7% year to date.
FOLD’s loss per share estimates have narrowed from $1.08 to $1.01 for 2020 and from 67 cents to 61 cents for 2021 over the past 60 days. Shares of the company have increased 53% year to date.
AVEO’s loss per share estimates have narrowed from $1.68 to $1.25 for 2020 and from $1.71 to $1.22 for 2021 over the past 60 days. Shares of the company have increased 5.8% year to date.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year. These 7 were selected because of their superior potential for immediate breakout.
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